Montanaro falls out with Pinnington

By

Nick Gilbert

January 14, 2002 5:00 p.m. GMT

Charles Montanaro, the independent City of London fund manager, appears to have fallen out with his long-time business partner, Roger Pinnington.

Shortly before Christmas, funds run by Montanaro, who is best known for the Montanaro UK Smaller Companies Investment Trust, used their 20% holding in the quoted Armour Trust to oust Pinnington after six years as chairman. The upset took the company's broker Beeson Gregory by surprise.